Market Moans.

first_imgThe world has changed and the price U.S. farmers will get fortheir cotton has drastically fallen, all in just two short months.At Christmas, a farmer could get about 66 cents for a pound ofcotton. Now, that farmer can get only about 59 cents. This isn’t goodnews for farmers trying to decide how much land to plant in cottonin 2001.For each 1-cent drop in the cotton price, Georgia farmers loseabout $9.6 million in income. For each 1-cent drop, Georgia’seconomy loses about $28.8 million, says Don Shurley, an ExtensionService economist with the University of Georgia College of Agriculturaland Environmental Sciences.Shurley figures farmers need at least 65 cents per pound justto break even.It Looked Good for a While Historically, Shurley said, cotton prices tend to improve duringJanuary and February. The fall in prices since December is unusual.When prices do fall, they tend to fall later in the growing season,closer to harvest. Cotton is harvested in autumn.In the past two months, world and domestic cotton conditions havetaken a turn for the worse for U.S. growers.Late last year, the U.S. Department of Agriculture estimated worldproduction at 86.7 million bales. (A bale equals 480 pounds ofcotton lint).Adding the leftover stocks, this would be the smallest supplysince 1996. Leading cotton- producing countries, such as India,Pakistan and China, were expected to decrease production for the2000 crop.That was good news for growers. When the supply goes down, theprice goes up.However, Shurley said, the latest estimates show world productionat 88.1 million bales. The expected drop in production did notmaterialize. So supplies are higher than expected. Things Don’t Always Go as Planned Cotton farmers around the world plan to grow just as much or morecotton in 2001. This includes U.S. cotton farmers.Early conservative estimates say U.S. growers will plant about15.9 million acres of cotton this year, about 400,000 more thanlast year. The USDA will release final cotton estimates in March.World market conditions look gloomy. Domestically, things don’tlook much better. The U.S. textile industry, which buys 60 percentof the total U.S. cotton production, is hurting.”We’ve lost about 1.5 million bales of our own textile businesssince 1997,” Shurley said. That means 720 million poundsof U.S. cotton in 2001 will have to find a buyer somewhere elsein the world.Americans still like cotton. In fact, U.S. retail consumptionis growing strong, Shurley said. However, a higher percentageof that consumption is coming from imports of fabric and finishedproducts, such as shirts and jeans. This makes U.S. growers dependmore on exports and foreign textile mills.If the U.S. textile industry continues to suffer losses, and ifworld cotton production continues to increase, U.S. cotton farmersface tough decisions in the future.last_img read more

Governor Shumlin announces $2.1 million in Community Development Grants

first_imgA Vermont specialty food company will receive a $550,000 grant from the state to expand its operation and create new jobs, Gov. Peter Shumlin announced today. Vermont Smoke and Cure was one of seven Vermont Community Development Program grants totaling $2,165,700 announced at an awards ceremony Tuesday in Hinesburg. Awarded to the Town of Hinesburg and loaned to Vermont Smoke and Cure, the funding will allow the company to relocate to Hinesburg and occupy the former Saputo Cheese Plant. The total cost of the expansion is $5 million and includes the creation of 13 new jobs. The move will allow for increased capacity and triple the size of the company’s current facility.‘Since it was established more than 45 years ago, Vermont Smoke and Cure has been dedicated to working with local farmers, sustaining economic growth and producing a high-quality product,’ said Gov. Shumlin. ‘The company’s plans to expand its operation and create new jobs in Vermont will have a lasting and positive impact on our economy.’Vermont Smoke and Cure provides processing services for family farmers and is a USDA inspected smokehouse. The new facility will allow the company to expand into production of a broader range of products that include beef.  This will lead to expanded purchasing of beef from Vermont farmers and a broader range of products that the company can make as a service for farmers. ‘This expansion is really exciting for our agriculture community. Not only will it add processing options for our farmers but it will create good jobs producing a value added product that is sought after for its quality here in Vermont and beyond our borders,’ said Chuck Ross, secretary of the Agency of Agriculture. ‘I want to thank the Vermont Smoke and Cure team for their resilience and hard work that will have a positive impact on our economy and local community.’Other grant recipients include $520,000 to the Town of Guilford, Housing Vermont and the Windham & Windsor Housing Trust to construct 17 new affordable housing units in two buildings in the village of Algiers. Also, Winooski will receive two separate grants ‘ one for $380,000 to allow the Champlain Housing Trust to continue its Champlain Housing Loan Fund; and the other for $370,000 for the Champlain Housing Trust to rehabilitate 10 apartments in three Winooski properties.The Town of Hartford will receive $255,000 for the Center for Cartoon Studies (CCS) to establish the Inky Solomon Center, a state-of-the-art incubator located in an historic building in downtown White River Junction.  The incubator will provide workspaces and professional development services for low and moderate income graduates of CCS.In addition, Shoreham and Morristown will receive $50,000 and $40,700, respectively, to bring local libraries into full compliance with state and federal accessibility requirements.The grants are funded through the federal Community Development Block Grant Program of the U.S. Department of Housing and Urban Development. The program helps Vermonters by developing affordable housing, creating jobs, making town halls and community centers accessible by those with disabilities and providing services for people in need.‘These grants will help improve Vermonters’ quality of life by developing a more creative, versatile economy, providing affordable housing and building strong communities,’ said Vermont Commerce and Community Development Secretary Lawrence Miller. ‘The expertise and dedication of the municipalities, businesses and organizations behind these projects are what make the Community Development Block Grant Program such a success.’The state awards the competitive grants based on recommendations of the Vermont Community Development Board and approval by Secretary Miller.For information about the Vermont Community Development Program, please see the Agency of Commerce and Community Development website at: is external).last_img read more

Military Lending Act implementation: Determining covered borrower status

first_img 3SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr As previously discussed on The Works Blog both here and here, last summer the Department of Defense (“DOD”) finalized sweeping changes to the Military Lending Act (“MLA”) that take effect this coming October. As a refresher, the MLA prohibits a credit union from charging a covered borrower an MAPR in excess of 36%. This MAPR cap applies to “covered borrowers” on most extensions of consumer credit.A frequent question we receive from credit unions regarding MLA implementation is how to determine whether an applicant is a “covered borrower.” The MLA gives your institution some discretion as to how you go about making this determination; however, it provides you with two safe harbors. The first is to check the applicant against the DOD’s manpower database which is available here. The second is to rely on an indicator of active duty status as it appears on the applicant’s consumer credit report.Generally, an active duty status indicator is placed on the borrower’s consumer credit report upon their request. It remains on the report for a period of one year and may be extended for an additional year should the servicemember’s active duty service be continuing. However, since publication of the MLA amendments the three major credit reporting agencies (Equifax, Experian and TransUnion) have been working on a system to directly connect with the DOD’s manpower database. This would allow the active duty status indicator to automatically populate to the borrower’s report and make the process of determining “covered borrower” status much more efficient for your credit union.Here is an update as to where each of the three major bureaus are in the implementation process: continue reading »last_img read more

4 ways you have already been social selling on LinkedIn

first_img 71SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr When sales people hear “social selling” some of them immediately dread learning something new, which, in their minds, may or may not work. Before you pooh-pooh social selling LinkedIn, you need to consider you may already be using social selling tools to sell!What? How did these process sneak it’s way in? Read on for four ways you have most likely already been social selling.You have a LinkedIn profile.Chances are great you already created a profile. Participating in LinkedIn is embracing social selling, even if you didn’t know it.How to get more out of it? Ramp up your efforts by adding a killer professional photograph, searching every so often for targeted leads, and finding a common ground to approach and connect with them.You use Twitter.Even if you have never tweeted anything about business, the fact that you have an account increases your web brand, and your presence helps potential clients know about you.How to get more out of it? Start tweeting about topics your clients would find helpful, with links back to your website, and relevant hashtags. Lead prospects to you, all without every making a terrifying cold call.You use these platforms to nurture leads. continue reading »last_img read more

Experts call for better public transportation integration in Greater Jakarta to lure more users

first_imgThe urban transportation system in Greater Jakarta should be better integrated in order to increase convenience for passengers, increase efficiency and meet the government’s target to lure more people to use public transportation, experts have stated.Indonesia Intelligent Transport System (IITS) advisor Elly Sinaga on Wednesday suggested the establishment of a public transportation council, consisting of transportation operators, associations and the Jakarta Transportation Agency, under the Greater Jakarta Transportation Body (BPTJ).“Through the public transportation council, the BPTJ could monitor the development and improve transportation integration,” she said during a webinar held by the BPTJ. Last year, the share of public transportation use had only reached 32 percent of all movements and covered only 67 percent of roads in Greater Jakarta, according to the BPTJ’s 2019 annual accountability report.Jakarta’s rides per capita figure is 2.8 trips, meaning that 88 million trips are taken using public transport in the area each day, according to Elly.“The huge population of Greater Jakarta is an opportunity for us to grow our public transportation system. We should align our supply of public transportation with the rising demand,” she said.A separate survey conducted by the Bandung Institute of Technology (ITB) between December 2019 and March 2020 shows that the average one-way trip distance for Greater Jakarta residents is 25.15 kilometers with an average travel time of 1.1 hours.“The top five issues that should be improved according to public transportation users are service frequency, compliance, capacity, comfort and reliability,” ITB School of Business and Management associate professor Yos Sunitiyoso said during the discussion.However, Yos said the ITB survey showed that public transportation users were generally satisfied with the current state of public transportation, with the 5,000 surveyed respondents giving an average score of 8.2 out of 10 for overall satisfaction.“Overall, people who have used public transportation are quite satisfied with it currently, even though they still gave suggestions for further improvements,” he said.Jakarta has long struggled with traffic congestion, with private vehicles making up over 70 percent of vehicle use in the city, causing economic loss and environmental damage due to heavy pollution.According to data from the National Development Planning Agency (Bappenas), traffic congestion in Greater Jakarta costs around Rp 65 trillion (US$4.6 billion) each year.Topics : Greater Jakarta commuters listed impracticality as one of the concerns that had dissuaded them from using public transportation, besides lengthy travel duration and a lack of access, according to a survey by Statistics Indonesia (BPS) in 2019.To further facilitate commuters, Elly suggested that the stakeholders should also integrate the public transportation fare, payment system and information, under a single roof.“If we take a look at cities abroad such as London, Hong Kong and Seoul, they integrate their public transportation fare and payment system through a centralized clearinghouse. It can reduce the cost of trips for users,” she added.Jakarta’s transportation master plan (RITJ) includes the government’s target to increase the share of public transportation use to 60 percent of all movements and expand its coverage area to 80 percent of all roads in Greater Jakarta by 2029.last_img read more

Check out this for a bargain: Price of luxury home slashed by $500K

first_imgThis acreage property at 135 Airlie Rd, Pullenvale, is for sale for a discounted price.Records show the owners paid $2.775 million for the property in 2008.It has been on and off the market since January 2015, but the owners have embarked on a renewed push to sell it in the past week. The cinema at the home at 135 Airlie Rd, Pullenvale.Features include an infinity-edge pool, a wet bar, cinema room, gallery-style kitchen, wine cellar, gas stone fireplace — even a horse arena. One of the bedrooms in the home at 135 Airlie Rd, Pullenvale. One of the living areas at the home at 135 Airlie Rd, Pullenvale. Renovator sells in 2 days First home buyers are back Homes that’ll make you go green Some would consider the current sale price a bargain given what the property has to offer. This acreage property at 135 Airlie Rd, Pullenvale, even has a horse arena. This acreage property at 135 Airlie Rd, Pullenvale, is for sale for a discounted price.THE owners of a luxury acreage property in one of Brisbane’s most affluent suburbs has slashed the price of the home by half a million dollars after trying to sell it for the past two years.The big family home on nearly 2ha at 135 Airlie Rd, Pullenvale, is back on the market for offers around $2.95 million — about $500,000 less than the vendors had initially wanted and at least $600,000 below replacement value. The infinity edge pool at 135 Airlie Rd, Pullenvale.Marketing agent Franzwa Van Vuuren of Brisbane West Real Estate said the owners were retired and motivated to sell.More from newsMould, age, not enough to stop 17 bidders fighting for this home1 hour agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor1 hour ago“We’re trying to find the right buyer for the property,” Mr Van Vuuren said.“There’s been a lot of interest but most people only want to spend between $2.2 million and $2.5 million because that’s their budget.” The rumpus room and bar at 135 Airlie Rd, Pullenvale.There are five bedrooms, all with ensuite bathrooms, and four living areas of grand proportions which take advantage of magnificent views. The view from the kitchen at 135 Airlie Rd, Pullenvale.Pullenvale is 15km from Brisbane’s CBD and has a median house price of $1.0715 million, according to property research firm CoreLogic.On average, one house sells every week in the suburb.last_img read more

​Danish FSA tells 25 pension funds to change solvency provisions

first_imgDenmark’s financial regulator has sent letters to 25 of the country’s life insurers and pension providers ordering them to change the way they calculate their solvency reserves, after finding they have not been using the new method required under the full implementation of Solvency II.The FSA (Finanstilsynet) has now given the companies – mostly occupational pension providers – nearly three years to correct their balance sheets, and says it is not yet clear what effect the adjustments will have.In a statement, the watchdog said: “The FSA has published its follow-up to the December 2018 Christmas letter on corporate valuation of provisions for solvency purposes.“Twenty-five companies have been ordered to calculate the provisions in accordance with the applicable requirements in the valuation notice.” In December 2017, an amendment to the valuation order for insurance obligations (værdiansættelsesbekendtgørelsen) came into force, as part of the full implementation of Solvency II. This has meant the companies can no longer use the same valuation method for solvency purposes as they use for accounting.Recipients of the brief letters containing an official order (påbud) to take action include the majority of the country’s main pension providers, such as AP Pension, MP Pension, Norli Pension, Industriens Pension, Danica Pension, PenSam Liv and TopDanmark.However, the FSA said that a further three companies had determined their solvency provisions in accordance with the principles set out in the valuation order, without naming these firms.The regulator said that because of the large methodological adjustments, “it is not immediately clear what effects the necessary adjustments may have, and that there may, therefore, be uncertainty associated with the calculation of provisions and solvency in the intervening period”.Because of this, the FSA said that in collaboration with the firms, it would continuously assess the need for temporary measures until the change methods were fully implemented.The companies have been given until the end of 2022 to make the adjustments.last_img read more

Inter Milan, Chelsea plot move for Napoli striker

first_img Mertens is out of contract in June and has so far been unable to agree a new deal with the club’s chairman Aurelio de Laurentiis. French football website reports that Inter and Chelsea will now battle it out to agree a deal in January ahead of a summer move.After emerging as a winger at the beginning of his career, Mertens was converted to a false nine by Maurizio Sarri, which saw him develop into a prolific goalscorer.Mertens, who started his career at Gent before spells at AGOVV, Utrecht and PSV, is involved in a dispute between De Laurentiis and the club’s players this season.Napoli players refused to attend a training camp organised by the chairman following their Champions League draw with RB Salzburg.De Laurentiis responded by claiming he would sell his entire squad, while Gazzetta dello Sport said Mertens would be sold in January.Inter and Chelsea are now circling for the 32-year-old who has become one of the best goalscorers in Europe in recent years.Inter Milan and Chelsea ‘approach Napoli striker Dries Mertens’ over potential free transfer – Daily Mail— Inter Milan show (@InterMilanshow) January 10, 2020Read Also: Chelsea legend names one player Lampard must sign this JanuaryThe Belgium international has scored 118 goals in 304 games, a tally which means he is the highest goalscorer in Napoli’s history.A further report in Corriere dello Sport recently claimed Mertens has already agreed a two-year deal to join Inter worth €6m per season.If he was to join Chelsea, however, he could return to the winger role he emerged in years ago, as the Blues bid to strengthen in wide areas.FacebookTwitterWhatsAppEmail分享 Promoted ContentCouples Who Celebrated Their Union In A Unique, Unforgettable WayWhat’s Up With All The Female Remakes?Birds Enjoy Living In A Gallery Space Created For ThemWho Earns More Than Ronaldo?You’ve Only Seen Such Colorful Hairdos In A Handful Of AnimeWho Is The Most Powerful Woman On Earth?7 Universities In The World Where Education Costs Too MuchBest & Worst Celebrity Endorsed Games Ever MadeWho Earns More Than Ronaldo?9 Facts You Should Know Before Getting A Tattoo14 Hilarious Comics Made By Women You Need To Follow Right Now8 Superfoods For Growing Hair Back And Stimulating Its Growth Loading… Inter Milan and Chelsea have reportedly approached Napoli striker Dries Mertens as they bid to snap him up on a free transfer this summer.Advertisementlast_img read more

Law Enforcement: Fake Money Floating Around South Florida

first_imgLaw enforcement is warning about a rise in fake money being used in Palm Beach and Martin county stores after the arrest of three people for passing fake $20 bills at various Dunkin Donuts locations in Tequesta and Hobe sound.Tequesta Police Chief Gus Medina says Wellington woman and two men are in custody after allegedly passing a prop $20 bill at the counter and then trying to do it again in the drive-thru. bills are marked “For motion picture use only.”last_img read more